The following provisions apply if, before the repeal of the Board’s policies mentioned above, (the repealed policies), an applicant for a licence or a licensee has:
(a) completed a Declaration in compliance with a repealed policy immediately before commencement of this Policy on 1 July 2006; or
(b) provided an Independent Review Report or Audit Report in compliance with a repealed policy which has a review year end date before 1 July 2006 (i.e. up until 30 June 2006).
The repealed policies continue to apply to the applicant for a licence or licensee until:
(a) for a Declaration referred to in the above paragraph – the licensee is required under the repealed policy to complete a new Declaration; or
(b) for an Independent Review Report or Audit Report referred in the above paragraph – the licensee is required under the repealed policy to provide a new Report.
Despite the repeal of the policies which existed immediately prior to this Policy coming into effect on 1 July 2006 pursuant to the above clause, if a Deed of Covenant and Assurance provided under a repealed policy is in force immediately before the commencement of the New Policy on 1 July 2006, the Deed is taken to:
(a) continue in force until it is revoked by the Building Services Authority pursuant to the Deed; and (b) have been given under this Policy.
To remove doubt, this Policy does not allow or authorise a Licensee to: (a) complete a declaration under a repealed policy after the 1 July 2006; or
(b) provide an Independent Review Report or Audit Report in compliance with a repealed policy with a review year end date on or after 1 July 2006.
12.3 Continuing classes of fire protection licence
To remove doubt, this policy applies to the holder of a continuing class of licence referred to in section 50 of the Queensland Building Services Authority Regulation 2003.
Queensland Building Services Authority Act 1991 Approved Form 1
Attachment 1 - Financial Requirements for Licensing
INDEPENDENT REVIEW REPORT
(FOR TURNOVER CATEGORIES 1-3 ONLY)
TO: Building Services Authority (BSA)……….. (Name of Client) Scope
I, ... (name) of ... (address or firm name) being an independent qualified person by virtue of ...(qualification) and being a holder of a public practising certificate state that I have reviewed the financial information of ……….(name of Client) (‘the Client’) for the year ended ……….(date). The Client or where the Client is a company, its directors, are responsible for the financial information. I have performed the review of the financial information against the financial criteria set out below in order to state whether, on the basis of the procedures described, anything has come to my attention that would indicate that the financial information in relation to those criteria is not presented fairly, in accordance with all applicable Australian Accounting Standards, other mandatory professional reporting requirements and the Financial Requirements for Licensing of the Building Services Authority.
This Independent Review Report has been prepared for distribution to the Client and the Building Services Authority, for the purpose of reporting on Financial Requirements for Licensing. I disclaim any assumption of responsibility for any reliance on this Independent Review Report or on the financial information to which it relates to any person other than the Client and the Building Services Authority.
My review has been conducted in accordance with Australian Auditing Standards applicable to review engagements. A review is limited primarily to inquiries of the personnel of the Client and analytical procedures applied to the Financial Information. These procedures do not provide all the evidence, which would be required in an audit, thus the level of assurance provided is less than given in an audit. I have not performed an audit and accordingly, I do not express an audit opinion.
I confirm the tests or checks I have conducted, and the evidence sighted, comply with those minimum requirements as set out in the Financial Requirements for Licensing Review Control Sheet developed by the Building Services Authority, and that I have applied all relevant Australian Accounting Standards and significant accounting policies in the preparation and presentation of the Financial Information. Where such standards and policies have not been applied, details of these are outlined below (See Note 1).
Qualification Paragraph
The Client has not met the following aspects of the Financial Requirements for Licensing:
... (State how the Client did not meet the Financial Requirements for Licensing.)
Statement
Based on my review of the Financial Information, which is NOT an audit, except for the effects described in the Qualification Paragraph, nothing has come to my attention that causes me to believe that the Client has not met the Financial Requirements for Licensing, as prescribed by the Building Services Authority, as at and for the year ended date as stated above.
In determining the Financial Information of the Client, I verify I have NOT included any Related Entity Loans or Investment assets in the calculations, unless otherwise stated as follows:
(TICK BOX IF APPROPRIATE)
In determining Net Tangible Assets of the Client, I HAVE included Related Entity Loan and/or Investment asset amounts within the accounts of the Client, and I have independently verified such assets are collectible by the Client as at and for the year ended date as stated above (See Note 3).
Financial Information:
• Actual Annual Turnover for year of review………. • Allowable Annual Turnover……….
• Current Ratio (please state as a ratio)………
:
………. (min 1:1)• Net Tangible Assets of Licensee – excluding the amount of any Deeds (of at least)……..………… • Deed of Assurance provided to Licensee (if applicable):
Full and Correct Name(s) of each Covenantor Amount of Deed ‘Defined Amount’ Relationship to Licensee (Refer to Section 2.4.5) Original Deed Previously Provided (Yes/No)
I CERTIFY THAT this Independent Review Report has not been altered from the Independent Review Report applicable to Turnover Categories 1–3 contained in the Board’s policies other than by the completion of information in the spaces provided.
In order for me to make the above statement, attached to this Independent Review Report are the details of the calculations performed. (See Note 2). Where Deeds of Assurance have been relied upon, I have attached a verified Statement of Financial Position for each Covenantor.
………. ……….
(Name of Appropriately Qualified Person) (Signature of Appropriately Qualified Person)
……….. ……….
(Professional Qualifications) (Date)
……… ………
(Address and Telephone number)
PRIVACY NOTICE
BSA is collecting the information on this form to ascertain whether your client satisfies the financial requirements of the Queensland Building Services Board for a contractor’s licence under the Queensland Building Services
Authority Act 1991. The information you have provided may be disclosed by BSA to another party with your
client’s consent or as authorised or required by law. In addition, BSA may provide all or some of this information to a financial specialist engaged by BSA to provide expert advice as to financial matters relevant to your client’s ability to satisfy the financial requirements for a licence. For further information visit the BSA website at www.bsa.qld.gov.au.
Notes:
1. List all Australian Accounting Standards and significant accounting policies which apply to the Client, but have NOT been applied in determining the Financial Information. Any variance from the Australian Accounting Standards applicable must be approved by the Authority prior to lodgement of the Report.
2. Individual calculations must be able to be agreed to the financial statement information.
3. If the assessment of the Clients Net Tangible Asset position includes Related Entity Loans and/or Investments, you must indicate this by ticking the appropriate box. If you do not tick the box you are declaring you have not included any Related Entity Loans or Investments in the Clients Net Tangible Asset calculation. Refer to section 2.4.4.
INDEPENDENT REVIEW REPORT
(FOR TURNOVER CATEGORIES 1-3 ONLY)
CALCULATION SHEET
This calculation sheet must be completed and returned with the Independent Review Report (Note 2).
Net Tangible Assets
Total Assets
=
Total Liabilities
=
Intangible Assets
=
NTA =
Total Assets – Total Liabilities – Intangible Assets
=
Current Ratio
Current Assets =
Current Liabilities =
Current Ratio
=
Current Assets
Current Liabilities
= _______________________________________
=
:
PRIVACY NOTICE
BSA is collecting the information on this form to ascertain whether your client satisfies the financial requirements of the Queensland Building Services Board for a contractor’s licence under the Queensland Building Services
Authority Act 1991. The information you have provided may be disclosed by BSA to another party with your
client’s consent or as authorised or required by law. In addition, BSA may provide all or some of this information to a financial specialist engaged by BSA to provide expert advice as to financial matters relevant to your client’s ability to satisfy the financial requirements for a licence. For further information visit the BSA website at www.bsa.qld.gov.au.
Queensland Building Services Authority Act 1991 Approved Form 2
Attachment 2 - Financial Requirements for Licensing
AUDIT REPORT
(FOR TURNOVER CATEGORIES 4 to 8)
TO: Building Services Authority (BSA)
……….(Name of Client) Scope
We have audited the financial statements of ………. (name of Client) (‘the Client’) for the year ended ……… as required by the Corporations Act 2001.
We have also audited the Financial Information for that year as set out below. The members of the ……… (governing body) of the Client are responsible for the Financial Information. We have conducted an independent audit of the Financial Information of the Client in order to express an opinion on it to the Client and the Building Services Authority.
The Financial Information has been prepared as required by the Financial Requirements for Licensing of the Building Services Authority. We disclaim any assumption of responsibility for any reliance on this Audit Report or on the Financial Information to any person other than the Client and the Building Services Authority or for any purpose other than that for which it was prepared.
Our audit has been conducted in accordance with Australian Auditing Standards. Our procedures included examination, on a test basis, of evidence supporting the information included in the Financial Information. These procedures have been undertaken to form an opinion whether, in all material respects, the Financial Information is presented fairly in accordance with Australian Accounting Standards, other mandatory professional reporting requirements, the Financial Requirements for Licensing of the Building Services Authority and whether the Client meets these requirements.
The audit opinion expressed in this report has been formed on the above basis. Audit Opinion
In my opinion the Financial Information set out below has been presented fairly and the Client has met the Financial Requirements for Licensing, as prescribed by the Building Services Authority, as at and for the year ended as stated above.
In determining the Financial Information of the Client, I verify I have NOT included any Related Entity Loans or Investment assets in the calculations, unless otherwise stated as follows: (TICK BOX IF APPROPRIATE)
In determining Net Tangible Assets of the Client, I HAVE included Related Entity Loan and/or Investment asset amounts within the accounts of the Client, and I have independently verified such assets are collectible by the Client as at and for the year ended date as stated above (See Note 2).
Financial Information:
• Actual Annual Turnover for period of Review……… • Allowable Annual Turnover……….
• Current Ratio (please state as a ratio)………
:
………. (min 1:1)• Net Tangible Assets of Licensee – excluding the amount of any Deeds (of at least)……..………… • Deed of Assurance provided to Licensee (if applicable):
Full and Correct Name(s) of each Covenantor Amount of Deed ‘Defined Amount’ Relationship to Licensee (Refer to Section 2.4.5) Original Deed Previously Provided (Yes/No)
In order for me to form the above opinion –
(a) attached to this Audit Report are the details of the calculations performed; and
(b) the Financial Information and the attached calculations have been extracted from the audited report of the Client for the year ended………..(date). The audit opinion which I formed the report was not subject to any adverse qualification or comment. A copy of the signed audited financial statements and independent audit opinion is attached hereto.
(c) Where Deeds of Assurance have been relied upon, I have attached a verified Statement of Financial Position for each Covenantor.
……….... ……….
(Name of Auditor) (Signature of Auditor)
………. ………
(Registered Company Auditor Number) (Date)
………..……… ………. (Address and Telephone number)
Please Note: Any reservation, shortcoming, non-compliance or other problem with the figures or qualification including any limitation of scope is to be included in a separate paragraph titled ‘Qualification’.
PRIVACY NOTICE
BSA is collecting the information on this form to ascertain whether your client satisfies the financial requirements of the Queensland Building Services Board for a contractor’s licence under the Queensland Building Services
Authority Act 1991. The information you have provided may be disclosed by BSA to another party with your
client’s consent or as authorised or required by law. In addition, BSA may provide all or some of this information to a financial specialist engaged by BSA to provide expert advice as to financial matters relevant to your client’s ability to satisfy the financial requirements for a licence. For further information visit the BSA website at www.bsa.qld.gov.au.
Notes:
1. Individual calculations should be able to be agreed to the financial statement information.
2. If the assessment of the Clients Net Tangible Asset position includes Related Entity Loans and/or Investments, you must indicate this by ticking the appropriate box. If you do not tick the box you are declaring you have not included any Related Entity Loans or Investments in the Clients Net Tangible Asset calculation. Refer to section 2.4.4.
AUDIT REPORT
(FOR TURNOVER CATEGORIES 4-8)
CALCULATION SHEET
This calculation sheet must be completed and returned with the Audit Report and audited financial statements.
Net Tangible Assets
Total Assets
=
Total Liabilities
=
Intangible Assets
=
NTA =
Total Assets – Total Liabilities – Intangible Assets
=
Current Ratio
Current Assets =
Current Liabilities =
Current Ratio
=
Current Assets
Current Liabilities
= _______________________________________
=
:
PRIVACY NOTICE
BSA is collecting the information on this form to ascertain whether your client satisfies the financial requirements of the Queensland Building Services Board for a contractor’s licence under the Queensland Building Services Authority Act 1991. The information you have provided may be disclosed by BSA to another party with your client’s consent or as authorised or required by law. In addition, BSA may provide all or some of this information to a financial specialist engaged by BSA to provide expert advice as to financial matters relevant to your client’s ability to satisfy the financial requirements for a licence. For further information visit the BSA website at www.bsa.qld.gov.au.
Queensland Building Services Authority Act 1991 Approved Form 3
Attachment 3 – Financial Requirements for Licensing
INDEPENDENT REVIEW REPORT
(FOR TURNOVER CATEGORIES 4-8 – 1
stYEAR ONLY)
TO: Building Services Authority (BSA)
……….. (Name of Client) Scope
I, ... (name) of ... (address or firm name) being an independent qualified person by virtue of ...(qualification) and being a holder of a public practising certificate state that I have reviewed the financial information of ……….(name of Client) (‘the Client’) for the year ended. ……….(date). The Client or where the Client is a company, its directors, are responsible for the financial information. I have performed the review of the financial information against the financial criteria set out below in order to state whether, on the basis of the procedures described, anything has come to my attention that would indicate that the financial information in relation to those criteria is not presented fairly, in accordance with all applicable Australian Accounting Standards, other mandatory professional reporting requirements and the Financial Requirements for Licensing of the Building Services Authority.
This Independent Review Report has been prepared for distribution to the Client and the Building Services Authority, for the purpose of reporting on Financial Requirements for Licensing. I disclaim any assumption of responsibility for any reliance on this Independent Review Report or on the financial information to which it relates to any person other than the Client and the Building Services Authority.
My review has been conducted in accordance with Australian Auditing Standards applicable to review engagements. A review is limited primarily to inquiries of the personnel of the Client and analytical procedures applied to the Financial Information. These procedures do not provide all the evidence, which would be, required in an audit, thus the level of assurance provided is less than given in an audit. I have not performed an audit and accordingly, I do not express an audit opinion.
I confirm the tests or checks I have conducted, and the evidence sighted, comply with those minimum requirements as set out in the Financial Requirements for Licensing Review Control Sheet developed by the Building Services Authority, and that I have applied all relevant Australian Accounting Standards and significant accounting policies in the preparation and presentation of the Financial Information. Where such standards and policies have not been applied, details of these are outlined below (See Note 1).
Qualification Paragraph
The Client has not met the following aspects of the Financial Requirements for Licensing:
... ... (State how the Client did not meet the Financial Requirements for Licensing.)
Statement
Based on my review of the Financial Information, which is NOT an audit, except for the effects described in the Qualification Paragraph above, nothing has come to my attention that causes me to believe that the Client has not met the Financial Requirements for Licensing, as prescribed by the Building Services Authority, as at and for the year ended date as stated above.
In determining the Net Tangible Assets of the Client, I verify I have NOT included any Related Entity Loans or Investment assets in the calculation, unless otherwise stated as follows:
(TICK BOX IF APPROPRIATE)
In determining Net Tangible Assets of the Client, I HAVE included Related Entity Loan and/or Investment asset amounts within the accounts of the Client, and I have independently verified such assets are collectible by the Client as at and for the year ended date as stated above (See Note 3).
Financial Information:
• Actual Annual Turnover for year of review………. • Allowable Annual Turnover……….
• Current Ratio (please state as a ratio)………
:
………. (min 1:1)• Net Tangible Assets of Licensee – excluding the amount of any Deeds (of at least)……..………… • Deed of Assurance provided to Licensee (if applicable):
Full and Correct Name(s) of each Covenantor Amount of Deed ‘Defined Amount’ Relationship to Licensee (Refer Section 2.4.5) Original Deed Previously Provided (Yes/No)
I CERTIFY THAT this Independent Review Report has not been altered from the Independent Review Report applicable to Turnover Categories 4-8 contained in the Board’s policies other than by the completion of information in the spaces provided.
In order for me to make the above statement, attached to this Independent Review Report are the details of the calculations performed (See Note 2). Where Deeds of Assurance have been relied upon, I have attached a verified Statement of Financial Position for each Covenantor.
………. ……….
(Name of Appropriately Qualified Person) (Signature of Appropriately Qualified Person)
……….. ……….
(Professional Qualifications) (Date)
……… ……… (Address and Telephone number)
Notes:
1. List all Australian Accounting Standards and significant accounting policies which apply to the Client, but have NOT been applied in determining the Financial Information. Any variance from the Australian Accounting Standards applicable must be approved by the Authority prior to lodgement of the Report
2. Individual calculations must be able to be agreed to the financial statement information.
3. If the assessment of the Clients Net Tangible Asset position includes Related Entity Loans and/or Investments, you must indicate this by ticking the appropriate box. If you do not tick the box you are declaring you have not included any